SAN FRANCISCO — Vietnamese EV maker VinFast plans to build EV battery cells and packs in its planned U.S. manufacturing complex, its global chief executive told Reuters on Wednesday.
VinFast, part of Vingroup JSC, the largest conglomerate in the Communist-ruled country, had previously said it planned to start producing electric vehicles in the United States in the second half of 2024.
VinFast is betting on the U.S. market, where it plans to debut affordable electric crossover vehicles late this year with its battery leasing models.
“We will build our gigafactory in the U.S. as well,” said Le Thi Thu Thuy, Vingroup vice chair and VinFast Global CEO. The company will continue to source batteries from its suppliers, she added.
It will initially assemble battery packs with cells sourced from its supplier at its U.S. complex before starting its own production there, she said.